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Strong signs of an impressive December in export sales.
The factors present in the market today indicate that Brazilian corn prices may experience a week of appreciation in relation to the previous week, with the movement of external demand in Brazil prevailing. This is what specialist Ruan Sene, market analyst at Grão Direto, points out.
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According to him, there are strong indications that December will be another very significant month in export sales. This could provoke, continues the Grão Direto analyst, competition with the domestic corn market, which is well supplied at the moment.
“New events regarding the conflict between Russia and Ukraine, which directly affect the flow of corn and wheat, will impact the supply of these cereals to the world, potentially causing movements in Chicago”, adds Ruan Sene.
HOW WAS THE WEEK?
Also according to Grão Direto's market analyst, the week was quite slow in negotiations in the domestic market: “Buyers have satisfactory stocks to get through the month and are trying to pull prices down, given the still large stock, resulting from the off-season. .
“In the external scenario, the market continues to be heated, with Chicago closing the week on a high, worth US$6.53 per bushel (+1.40%). The main drivers of Chicago's rise were the bad weather situation in Argentina and fears about the attack on the port of Odessa, in Ukraine”, points out Ruan Sene.
“In relation to exports, according to the Secretariat of Foreign Trade (Secex), Brazil exported 1.5 million tons in just 7 working days in December. This represents an increase of 46% in the daily average compared to the month of November 2021. If it continues at this pace, it could exceed 5 million tons during the month”, he concludes.
Source: Leonardo Gottems | agrolink
